Operational Risk Manager, London

Role Overview

The operational risk function is required to lead and promote a positive culture of learning and continuous improvement by promoting “Do it once, Do it right” across the Bank. The aim being to drive the bank towards operational excellence and best in class practices of process understanding, documentation and control with appropriate innovation and efficiency. All the activities within Operational Risk need to be fulfilled with this broad objective in mind.

More specifically, Operational Risk fulfils the role of engagement on and monitoring of Operational Risk KRI’s, RCSA’s and Risk Events at the Bank including appropriate, escalation and supporting remediation activities.

This senior role incorporates wider responsibilities including the production of the Banks ICAAP, ILAAP, Pillar 3, Recovery Plan and Resolution Pack, in close coordination with the CRO and support staff. Consequently, the role requires competent engagement at all levels of the Bank from new joiners to the Senior Executive and Board level.

The role holder is expected to be an influential thought leader, a proactive problem solver and a self-starter who needs little direction holding both the gravitas and thoughtful engagement to promote collaboration and collective solutions.

Regulatory Responsibilities:

• To exercise the Certified Regime ‘Significant management function’ in accordance with the FCA and PRA’s Certification Regime requirements – ensuring compliance with the Conduct Rules set out below.

Risk Control Responsibilities:

• Support the CRO in building and developing a positive risk management culture across the Bank, working with employees continuously to ensure risk awareness is embedded and robustly understood.
• Provide cover for and assist in other Risk analytical and project work and ad-hoc duties assigned by the Chief Risk Officer including providing cover for CRO absences from time to time.
• Ensure all EUC controls and processes are fully documented, appropriately controlled, backed up and verified.
• Lead the production of ICAAP, ILAAP, Pillar 3, RAS, Recovery Plan and Resolution Pack in close coordination with the CRO.

Operational Risk:

• Lead and host regular events and operational risk workshops including strong early engagement with new recruits on operational risk to set the tone for expected operational risk management behaviours across the Bank.
• As the second line of defence, develop the banks operational risk management capability to investigate root causes and promote prompt, effective and lasting solutions.
• Lead the oversight and challenge of the banks operational risk registers, KRIs and risk events to ensure operational risks are identified, assessed and mitigated.
• Assist 1st line of defence in improving the control environment as part of operational risk management.
• Ensure reporting is effective and robust, data is accurate, breaches are promptly identified, escalated in a timely and effective way and appropriate early warning tools are installed and effective.

Risk Identification:

• Drive the Risk Control Self-Assessment (RCSA) process, Risk Event process, Key Risk Indicators and the High-Level Risk Register, maintaining reports within the Bank’s Operational Risk system of issues and actions; tracking actions to completion and challenging the business on the information captured to ensure matters are clear and easily interpreted.
• Working with colleagues across the bank in co-ordinated and consistent approach to both the application of the operational risk discipline and resolution of operational risk issues.
• Ensure that the Operational Risk framework is kept up to date with Risk Registers, KRI’s and Risk Events.

Monitoring:

• Provide relevant and accurate MI on the operational risks in the business units.
• Maintain and update the Risk Department’s internal Procedures and Policies, in conjunction with the Senior Assistant Manager and the Manager.
• Enhancement and automation of risk reports and tools with Excel functions and VBA where appropriate.

Escalation:

• Assist with the gathering and analysis of KRI management information to identify areas of risk in the Bank’s business activities, working with the business to ensure that appropriate action is taken.
• To assist in providing reports for EXCO, Board Risk Committee and the Board.

Additional responsibilities:

• Keeping up to date with industry best practice and regulatory developments where this affects the risk management of the organisation, particularly with respect to operational risk.
• Develop identification and monitoring on all aspects of Operational Risk including – Cyber, IT Security, Compliance, Financial Crime & Conduct Risk
• To assist with other analytical and project work and ad hoc duties assigned to them
• Manage and prioritize own workload.
• REP018 return ownership.

Skills required:

• Strong knowledge of and experience in a range of risk management disciplines and internal controls.
• Familiarity with key regulatory submissions including ILAAP, ICAAP, Pillar 3, RAS, Recovery Plan and Resolution Pack.
• Attention to detail - to pick up on errors and produce accurate work
• Driven, ambitious, self-starter who can grasp a concept quickly and deliver a reasoned investigation and analysis.
• Grasp of the reasons for a strong control environment and operates with this mentality
• Experience of, or significant exposure to, working in a Trade Finance environment
• Knowledge of Regulatory practices within Finance desirable
• Personable and approachable to all levels of employees
• Knowledge of Basel II, Basel III, Risk and Capital requirements
• Good understanding of the principles of risk management and risk management techniques
• Understanding of the use and risks associated with Interest Rate Futures, Foreign Exchange, Interest Rate Swaps, Bonds and CDs, Wholesale Money Market and Trade Finance Products.

Software Knowledge required/desired:

• Microsoft Office package MS Excel Advanced (Essential) VBA (Desired)
• MS Word and MS Outlook

Specific knowledge desirable/not necessarily required:

• IT framework and Cyber risk knowledge
• Temenos (T24), Calypso, Eurobase-Siena, aCCelerate
• Accounting knowledge

The following highlights relevant Conduct Rules under the Senior Managers Regime. The Bank will provide separate detailed guidance and training on these responsibilities:

Rule 1: You must act with integrity;

Rule 2: You must act with due skill, care and diligence;

Rule 3: You must be open and cooperative with the FCA, the PRA and other regulators;

Rule 4: You must pay due regard to the interests of customers and treat them fairly;

Rule 5: You must observe proper standards of market conduct.

Rule 6: You must act to deliver good outcomes for retail customers

Our client is an equal opportunities employer, and ensures that no applicant is subject to less favourable treatment on the grounds of gender, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, responsibilities for dependants, physical or mental disability. Candidates are selected for interview based on their skills, qualifications and experience.

Please note that we can only consider candidates who are eligible to work in the UK and are able to provide relevant supporting documentation.

For further information, please contact: 

Enrico Castagnetti, Wintermann Search & Selection Limited

Mobile:       +44 (0)7711 267500

Email:         enrico@wintermann.co.uk